Published: Sept. 30, 2022 at 4:45 AM CDT|Updated: 2 hours ago
NEW YORK, Sept. 30, 2022 /PRNewswire/ — Jakubowitz Law announces that a securities fraud class action lawsuit has commenced on behalf of the shareholders of LifeStance Health Group, Inc. (NASDAQ: LFST).
To receive updates on the lawsuit, fill out the form:
https://claimyourloss.com/securities/lifestance-health-group-inc-loss-submission-form/?id=32223&from=4
This lawsuit is on behalf of all purchasers of LifeStance common stock pursuant and/or traceable to the documents issued in connection with LifeStance’s June 10, 2021 initial public stock offering.
Shareholders interested in acting as a lead plaintiff representing the class of wronged shareholders have until October 11, 2022 to petition the court. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
According to a filed complaint, LifeStance Health Group, Inc. issued materially false and/or misleading statements and/or failed to disclose that: (i) the number of virtual visits clients were undertaking utilizing LifeStance Health was decreasing as the COVID-19 lockdowns were being lifted, thereby flatlining LifeStance Health’s out-patient/ virtual revenue growth; (ii) the percentage of in-person visits clients were undertaking utilizing LifeStance Health was increasing as the COVID-19 lockdowns were being lifted, thereby causing LifeStance Health’s operating expenses to increase substantially; (iii) LifeStance Health had lost a large number of physicians due to burn-out and, as a result, its physician retention rate had fallen significantly below the 87% highlighted in the initial public offering’s registration statement, and LifeStance Health had been expending additional costs to onboard new physicians who were less productive than the outgoing physicians they were Replacing; and (iv) as a result, LifeStance Health’s business metrics and financial prospects were not as strong as the initial public offering’s registration statement represented.
Jakubowitz Law is vigorous in the pursuit of justice for shareholders who have been the victim of securities fraud. Attorney advertising. Prior results do not guarantee similar outcomes.
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